The Board of Directors at Lucky Cement has authorised the management of the company to undertake a feasibility study for a renewable energy project at its plant in Karachi, including wind and solar power, according to a notice to the Pakistan Stock Exchange (PSX) on Monday.
The development occurred during Lucky Cement's emergent meeting held on June 11, 2022, informed the company in its notice.
“Sustainability and adoption of clean energy have remained a cornerstone of Lucky Cement's strategy,” read the notice, adding that Lucky Cement was one of the earliest cement companies to install waste heat recovery (WHR) units at both of its plant sites.
“Currently, the share of WHR in total power generation of the company is 25%, which not only is environmentally friendly but also results in low-cost energy.
“Keeping up with its commitment for promotion of renewable energy, the company is already in the process of installation of 34 MW captive solar power project with a 5.589 MWh Reflex energy storage at its plant site in Pezu, Lakki Marwat,” read the notice.
Subjected to approvals of the feasibility of renewable energy project in Karachi, the company said that its initiatives for investment in renewable energy projects will play a key role in cost savings as well as reduction of the country's reliance on imported fuel.
Lucky Electric commissions 660 MW coal power plant at Bin Qasim
Back in March, Lucky Electric Power Company Limited (LEPCL), a wholly-owned subsidiary of Lucky Cement, successfully completed the commissioning of its 660 MW supercritical, lignite coal-based power plant at Deh Ghangiaro, Bin Qasim, Karachi.
Lucky said the power plant was synchronised with the national grid towards the end of CY 2021 and since then has been involved in extensive testing and completing relevant inspections and commissioning, thereby achieving Commercial Operations Date (COD) on March 21, 2022.
“The power plant has been designed to operate on Thar Lignite Coal, subject to its availability; however, during the interim period, it will mainly operate on imported Lignite Coal till the completion of Phase III of Sindh Engro Coal Mining Company (SECMC), which is expected in the second quarter of CY 2023,” read the notice.